Stocks in news: Tata Steel, Bharti Airtel, Axis Bank, Paytm and more

Benchmark equity indices settled lower on Friday. The absence of supportive global cues weighed on the market sentiments, which dragged the headline peers lower in the last hour of the session. Sensex plunged 398.18 points, or 0.69 per cent, to 57,527.10, whereas Nifty50 declined about 132 points, or 0.77 per cent, to 16,945.05. Broader markets underperformed the headline peers as BSE midcap and smallcap indices dropped more than a per cent, each. Fear gauge India VIX spiked over 5 per cent to the 15.24-mark.

Here’s a look at stocks that are likely to remain in news today.

One97 Communications (Paytm)

The company’s subsidiary Paytm Payments Services Ltd (PPSL) has received an extension from the Reserve Bank of India (RBI) to resubmit its application for a payment aggregator (PA) licence.

Tube Investments of India

Tll and Premji lnvest will buy 67% and 33% of the equity share capital of Lotus Surgicals, subject to the satisfactory completion of the conditions.

Axis Bank

S&P Global Ratings has reaffirmed the credit rating for Axis Bank as 'BBB-/Stable/A-3'.

Karur Vysya Bank

The bank has executed an agreement with SBI Life Insurance Company, as an additional bancassurance partner in the life insurance category.

Shriram Finance

The company has raised Rs 341 crore through NCDs at a coupon rate of 9%.

Bharti Airtel

Bharti Airtel announced its Ultra-fast 5G Plus is now available across 500 cities in the country.

Suryoday Small Finance Bank

The board of directors of the bank has appointmented Yogesh Dixit as Chief Risk Officer of the Bank for a further period of three years effective from April 1, 2023.

Tata Steel

Tata Steel has bought 4.65 lakh equity shares of Rs 10/- each at a premium of Rs 205/share of Tata Steel Utilities and Infrastructure Services, a wholly owned subsidiary of the company, on a rights basis, for Rs 10 crore.

Lupin

The company has announced the successful completion of an inspection carried out by the UK Medicines and Healthcare products Regulatory Agency at its Pithampur facilities in India. Also, the US FDA has completed a Post-marketing Adverse Drug Experience (PADE) inspection of the company's operations. The inspection closed with no observations.

Kajaria Ceramics

The board of directors of Kajaria Ceramics considered and cleared investment by the company in the revised project cost of Rs 90.74 crores (i.e. 50% of Rs. 181.49 crores) and the working capital up to Rs. 21.23 crores (i.e. 50% of Rs. 42.45 crores) in Kajaria Ramesh Tiles, Nepal (joint venture company) for establishing a manufacturing facility of the said joint venture company, having revised annual production capacity of 5.1 MSM tiles.

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